The Government of North Macedonia declared a photovoltaic project under development by Akuo Energy a strategic investment. It said the facility would have a capacity of 350 MW to 400 MW and that it would be worth EUR 270 million.
Akuo Energy SAS, based in Paris, intends to build solar park Stipion in North Macedonia via a local firm called Ostro Solar from Skopje, the government said as it awarded the project with a strategic investment status. The investment is valued at EUR 270 million and its capacity will be between 350 MW and 400 MW, according to a press release from the last cabinet session.
Prime Minister Zoran Zaev, who recently submitted his resignation, said in September that Akuo is among the foreign investors that expressed interest in large energy projects.
Akuo Energy Central Europe is the partner in IEL OIE Balkan Renewable Energy’s 85 MW Bašaid wind farm project near Kikinda in Serbia. The French firm has an advanced project for the Çiçavica wind farm of 100 MW in Kosovo*.
Earlier this year, Akuo bought five hydropower plants in Bulgaria with a total capacity of 15.5 MW.
North Macedonia so far granted a strategic investment status to wpd and EFT’s renewable energy projects and a future plasma waste gasification plant under development by local firm Zoka Trade (Zoka trejd).
Zaev has also said North Macedonia would invest together with Albania and Serbia in a photovoltaic system of 700 MW, but he offered no details. State-owned power utility Elektrani na Severna Makedonija or ESM was tasked in May with developing a project for a solar power plant of up to 350 MW near Štip.
Update: The Government of North Macedonia revealed the photovoltaic plant would be built near Štip at a location that was initially intended for a cargo airport. The statement adds a law is being prepared for the implementation of the investment and that it is expected to be adopted next year.
Production of electricity will start in 2023 and the solar plant should be completed by the end of 2024, the government said and estimated its annual output at 650 GWh.